Business

(Reuters) -OpenAI is in talks for an investment round to raise nearly $40 billion that would value the AI startup at up to $340 billion, the Wall Street Journal reported on Thursday. OpenAI did not immediately respond to a Reuters request for comment on the report. SoftBank could invest $15 billion to $25 billion directly into Microsoft-backed OpenAI, some of which may be used to pay for OpenAI’s commitment to Stargate, Reuters had reported on … Read more…

By Deborah Mary Sophia and Joel Jose (Reuters) -Investors punished Microsoft with a 6% share drop on Thursday as hefty AI bets failed to drive a big increase in its cloud revenue, while Meta rose 4% after CEO Mark Zuckerberg assured Wall Street about growth with promises of a “really big year”. The chief executives of both the companies defended their heavy investments on artificial intelligence on Wednesday, days after Chinese upstart DeepSeek unveiled a … Read more…

By Zaheer Kachwala and Siddarth S (Reuters) -Tesla shares gained more than 2% on Thursday after CEO Elon Musk vowed to launch long-awaited cheaper models in the first half of 2025 and start testing an autonomous ride-hailing service in June. The promises helped investors overlook a weak fourth quarter that saw margin shrink and revenue drop below expectations as a result of slow model upgrades and rising competition. Doubts over Tesla’s auto business gained ground … Read more…

By Georgina McCartney HOUSTON (Reuters) – Dealmaking in the U.S. upstream oil and gas industry hit $105 billion in 2024, the third highest annual total ever, but activity slowed in the second half as buyers found fewer targets to acquire, consultancy Enverus said on Wednesday. Last year’s total deal value fell sharply behind the whopping $192 billion in mergers and acquisitions done in 2023, which included the $60 billion combination of Exxon Mobil and Pioneer … Read more…

(Reuters) – Alphabet’s self-driving unit Waymo announced on Wednesday it plans to expand testing of its autonomous driving technology in over 10 new cities in 2025. After testing the Waymo Driver in multiple cities, the company says the technology is adapting successfully to new environments, leading to the expansion. In addition to ongoing trips to Truckee, Michigan’s Upper Peninsula, Upstate New York and Tokyo, the expansion includes testing in San Diego and Las Vegas, with … Read more…

(Reuters) – Microsoft has made Chinese startup DeepSeek’s R1 artificial intelligence model available on its Azure cloud computing platform and GitHub tool for developers, the U.S. company said on Wednesday. The AI model will be available in the model catalog on the platforms and will join more than 1,800 models that Microsoft is offering. DeepSeek last week launched a free AI assistant that it says uses less data at a fraction of the cost of … Read more…

By Tom Polansek and Juveria Tabassum (Reuters) – Smithfield Foods does not plan to close more U.S. pork processing plants, Chief Executive Shane Smith said on Tuesday, as the company returned to a U.S. exchange after more than a decade in a spinoff by Hong Kong-based WH Group. The biggest U.S. pork processor also is paying close attention to trade and immigration policy changes under U.S. President Donald Trump as it exports pork and relies … Read more…

By Saqib Iqbal Ahmed NEW YORK (Reuters) – Monday’s massive selloff in AI-darling Nvidia’s shares did little to blunt options traders’ enthusiasm for the chipmaker’s shares, with traders quick to pile back into bullish Nvidia contracts as the stock recovered on Tuesday. Nvidia shares slumped about 17% or close to $593 billion in market value – a record one-day loss for any company – on Monday on worries sparked by a low-cost Chinese artificial intelligence … Read more…

(Reuters) – Amazon’s Prime Video has shifted its strategic focus towards live sports and away from original television shows and movies, seeking to meet internal corporate profit targets, The Information reported on Friday. Amazon’s reported move marks a pivotal moment for the tech giant as it looks beyond its traditional focus on original content for generating revenue. Live sports events, with their real-time viewership, offer valuable opportunities for targeted ad placements, and has encouraged streaming … Read more…